Founders Metals Provides Exploration Update on Emerging Targets; Drills 72.0 m of 1.01 g/t Gold at Parbo

On December 11, 2025, Founders Metals provided an exploration update from its Antino Gold Project in Suriname, reporting drill results from the Parbo, Da Vinci, and Maria Geralda targets.

Key intercepts include: - Parbo: 72.0 m of 1.01 g/t gold (Au) in hole PB003. CEO Colin Padget also highlighted hole PB013, which returned 200 m of 0.51 g/t Au from surface, describing Parbo as a significant intrusion-hosted target that remains open. - Da Vinci: 19.5 m of 2.31 g/t Au and 22.5 m of 1.38 g/t Au in hole DV016, demonstrating shear-hosted mineralization. - Maria Geralda: 12.0 m of 1.12 g/t Au in hole MG010.

The results are presented as demonstrating the scale and consistency of the gold systems at Antino. The company is now planning its 2026 exploration program.

The December 11, 2025, drill results are positive as they continue to expand known zones of mineralization and confirm the company's geological model of a large, district-scale gold system. However, in the context of historical results, this news is routine and lacks the material impact of previous announcements.

• Progression from High-Grade Discovery to Tonnage Building: In early 2025, Founders announced spectacular discovery holes, including 28.5 m of 7.12 g/t Au at Van Gogh (February 20) and 22.5 m of 11.88 g/t Au at Maria Geralda (June 24). These high-grade intercepts generated significant market excitement and drove the share price to its 52-week high of C$6.25. The latest results, such as 72.0 m of 1.01 g/t Au, are good bulk-tonnage style intercepts but are of significantly lower grade. The CEO's emphasis on a 200 m interval of 0.51 g/t Au further signals a focus on demonstrating size and scale, which is a necessary but less spectacular phase of exploration.

• Confirmation, Not Surprise: The results confirm gold mineralization at multiple targets, which is expected from a well-funded, aggressive drill program. This is consistent with the company's narrative and ongoing work, rather than a breakthrough discovery that materially alters the project's potential.

• Post-Financing Context: The news follows a transformative C$50 million strategic investment from major gold producer Gold Fields at C$4.15 per share in November 2025. This investment validated the project's potential and de-risked the company financially. The market has already priced in significant exploration success. The current results, while solid, are unlikely to be a major catalyst to move the stock beyond the consolidation range it has been in since the financing.

Overall, the news is a positive operational update that shows steady progress. It supports the thesis that Antino is a large mineralized system. However, the lack of high-grade "bonanza" intercepts makes it a routine update rather than a material, price-moving event. The market will likely await results from new targets on the recently expanded land package or the publication of a maiden resource estimate before re-rating the stock.

Founders Metals Inc. is a Canadian-based gold exploration company focused on advancing its flagship Antino Gold Project in the Guiana Shield of southeastern Suriname. The project covers a massive 56,000-hectare land package with a history of producing over 500,000 ounces of gold from artisanal surface and alluvial mining. The company is aggressively exploring multiple high-grade gold targets (including Upper Antino, Buese, Da Vinci, Van Gogh, and Maria Geralda) across a district-scale mineralized system, with the goal of defining a multi-million-ounce gold deposit.